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irreparable damage to the u.s. economy. >>> and jump t to the top of the ftse 100 after third quarter revenue beat the forecast, burberry had earnings higher than expected. >>> all right. sorted out my mike issues. "worldwide exchange" is slightly different today because we're analyzing the first german gdp numbers. >> and i come to the u.s. where it's all annualized and we stick to the european data and it's quarter on quarter. given the context, we're still working through what all that means. >> exports in november, down 94.1 billion is where we essentially went. 98.4 billion was the october numbers. so exports in november driving down. and that gdp number is worth pulling out. exports for the year, up 4.1%. as far as production is concerned, it was up 2% in november. but the forecast were for it to rise up 1%. it was a very weak october, as well. it was this production and that production number. when that came out, it essentially made people put a pretty fourth quarter in the whole, kelly. what we're trying to do is derive what the annual figure was. >> exactly. and before we get to that
stronger in the second half. >> for the economy? i think we have to divorce the economy from the market. >> have we been price thatting that out? >> we have to be clear that markets are totally different from the economy. for the markets, we're looking at 2% scenario. scenario a would be similar to 2012 where i think actually the economy doesn't do that well. the first half is difficult. second half is a bit better. we've still got the fed printing 5 billion a month. we could see a rerun of 2012. maybe mid to single high digit returns. >> did you get exposure of citi to bofa here? >> we wouldn't be. we're taking a little bit of money off the table or indeed i think we did. the level of implied volatility makes perfect sense here. >> we'll leave it here for now. thanks very much. over to you, ross. >> kelly, thanks for that. so we are just about an hour and 20 minutes into the trading day here in europe. you can see advancers just about outpace decliners by a ratio of 6 to 4 and we're up near the high point of the session which has dragged us back into prospect on that particular indices
coming this week. joining us now is jeff clinetopp at lpl financial. on the economy, dick hoey. jeff, it's going to start with you because i'm interested to see we could have not just a lower than expected increase in earnings this year, but maybe even a negative year since aus thegs companies and profit margin is were peaking. is it possible the s&p earnings do not grow this year? >> there's a distinct possibility earnings don't grow. our expectation is they grow a very small amount, but a lot of that is coming from share buyback these year. this quicker alone is a testament to that. this fourth quarter, supposed to be the lowest earnings dollar total for any of the quarters of last year. that's not the way it's supposed to work. fourth quarters is supposed to be the highest earnings total. but we've got that uncertainty lingering for 2012. this week, we'll hear from a lot of the fms. they have the highest earnings expectations for 2013. mortgages are doing well. but the less favorable -- >> and we know how difficult it has been to grow revenues year over year. so that's difficult and y
about the u.s. economy, the turning in the house prices, europe, for example, these things will make an extraordinary amount of money even if they require more capital because banks are extremely leveraged institutions. and you only need a small amount of top line growth for them to make a lot of profits. >> if you to pick u.s. banks versus the rest of the world, what do you like for 2013? >> it bizarre thing is that last year everybody was upset about the masters of the universe and were talking up their retail and sort of consumer arms because credit losses were falling. interestingly, this year i suspect bank with more exposure to independent banking will probably do a lot better much to the chagrin of politicians i suspect. why is that? the m&a pipeline's looking all right. u.s. economy's looking slightly better. and we're still pre-basal 3. >> we'll leave it there. lex on wex, can we use that? >> yeah. >> is that all right with you? >> fine by me. >> lex on wex. >> stuart, thank you very much. we will be talking later about divestment. merger and acquisition activity this year d
sensitive to the economy commodity in the world. ip took out a lot of capacity. ip is a genius. this company's had an unmitigated run. capacity's constrained, prices going up, 95% of capacity. that is like -- you can put the price increase after price increase, that says the economy is much stronger than expected. this is the first commodity to raise prices big when things get better. they're raising prices consistently. very bullish. >> that is a great, great tell. still more to come this morning. get ready for an ipo hat trick, sunco energy partners, norwegian cruise lines, all making their debuts this morning. stick around to see how they open for trading. the opening bell is just a few minutes away. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ [ indistinct shouting ] [ male announcer ] t
of the economy. a discussion about the fed earlier in terms of the beige book numbers. what do you think that tells us on where we are in the economy? >> look at numbers of the last week or two, retail production numbers for december, and they were actually pretty good. of course, the employment numbers we already know were soiled, and this is in a period where the uncertainty over the fiscal cliff was reaching a maximum. you know, maria, you think that's pretty encouraging that the economy has managed to cope with a high level of uncertainty. now the thing that kind of bothers me though is i'm a little bit worried that this coping is flipping over to complacency. the vix is now at a six-year low, and it tells me that the market is discounting 100% probability that we get through the debt ceiling without any trouble. that seems too high to me. >> so do you think the market is expecting that? i mean, when would you expect a big change in terms of the interest rate scenario? >> in terms of the interest rate scenario, probably nothing this year. i mean, we're at least a couple years away fr
in the second half of this year, we could start seeing some economies get traction again. of course, some of the very badly hit economies like greece, it will take longer. but europe i think should improve. >> the chairman and ceo of mercedes-benz joining us first on cnbc. the e-class rollout here earlier today. i'm not sure that i have ever seen an unveiling with as many people as were jammed in here to the mercedes stand today here in detroit. back to you. >> that is a big deal, phil. you've seen your share of unveilings, that's for sure. phil lebeau in treat today. one food company on the move, let's get to kayla tausche who is manning the market flash desk. >> watching flowers foods. that's a southern food company, flo. about $4 billion in market cap, that stock up more than 6% hitting an all-time high on its first trading day after signing an agreement to acquire the majority of the bread businesses from hostess brands. that includes wonder bread. of course we're still waiting for some of the other bidders for some of the other units to be announced. right now flowers is the bid to b
the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy
that is indeed worrisome. however, we are seeing some pretty good signs in the economy right now, so we're hopefully optimistic that they'll continue. and last thing anybody who's bet against america has proved it's a losing bet in the past. we're very bullish on this country. >> steve, thanks so much for your time. thank you for joining us first on cnbc. >> thank you. >>> interesting debate. meantime, goldman sachs making waves with the bonus pay joits. we'll get that in a moment. after the break, david faber's exclusive with mel karmazin. he's here to give us his very first interview since stepping down as the ceo of sirius xm. we're back in a couple of minutes. mine was earned in djibouti, africa, 2004. the battle of bataan, 1942. [ all ] fort benning, georgia, in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto-insurance quote. usaa. we know what it means to s
, housing is better, you want to be invested in this economy for the next three to five years because that's where you're going to make money. you're not going to make money in fixed income. you're not going to make money focusing on only pure dividend stocks that are 5%, 6%. you're going to have to have companies that can grow the top lines, that have the ability to shepherd capital and really can take the consumer that is now in a better shape than the u.s. and now is getting better overseas to grow your company. >> okay. so you're talking mostly about multi national companies or -- >> multi nationals and secular growth companies. >> both? >> both, absolutely. but you want good companies with management that are just not going to sit there and do financial engineering and say, oh, we borrowed more money and because our cost of debt is lower than our dividend and we can do that. that party is over. that game is done. you really want the companies that i think if you want to beat the market and we think actually the market is going to have -- is going to grow, gives you a look at how much
are and as much as we can tell about the economy and financial sector, we will be obsessed with jamie dimon, if he didn't get as much of a bonus as normal because his pristine reputation because of the wale slipping -- thing we can find as members of the media. >> $6 million trade on a balance sheet of -- >> i don't know how much they made in spite of that. a lot. >>> speaking of the bank, another -- >> look who's here! >> and dressed normally, too. >> can we get the man a chair? he can't sit -- ♪ >> we thought you were trying on different zweaters. on a day like this, what is the right look for a young, happening, dashing -- >> what -- what -- >> you have time. don't do this to viewers. it's not that important. did you not get make-up? >> no. he didn't. >> look at -- this is natural beauty. >> you didn't shave -- you really think you need to be here that much that you can't get make-up? >> absolutely. >> taking one for the team. >> all right. >> speaking of this -- stay on us, please. morgan stanley will take -- you can get powder or something if you want. just headlines -- >> the women didn't
Search Results 0 to 10 of about 11